Dec 9, 2012 12:00pm PST
's core demand that the top marginal income rates return to the clinton-era levels of 36%, 39.6% after december 21st, the article goes on to say, the additional revenue would be only about a quarter of the $1.6 trillion that mr. obama wants to collect over ten years. why should republicans agree do that. if it's not going to generate enough revenue, congressman? >> well, it's a down payment on the deal. we want to make sure that middle class taxes don't go up by $2,000 january 1st. that's something that i feel the president feels, republicans and democrats should agree on. that's what we can realistically get done in the next few weeks. a straight up or down vote on the senate bill. we have a discharge petition to bring it to the floor of the house to renew the middle class tax cuts. this will continue in terms of figuring out how to balance the budget. but in the meantime, let's not take $2,000 away from every middle class family. >> let's assume you guys get the rate that you're looking for. let's assume that does happen. how are we going to make up for the rest of the revenue? talki
Dec 4, 2012 4:00pm PST
forgets that president clinton raised taxes on the wealthy and created 22 million jobs. president bush cut taxes on the wealthy and created 1 million jobs. so his economic expertise is a little behind here. but the truth of the matter is, everybody voted in this election, the president said he would raise taxes on people earning over $250,000. that's what he's going to do. that's what's going to happen. he has the authority of an election behind him. running for office is a difficult thing to do, and the people that win the elections have a lot more moral authority than in a democracy than people who talk about elections. >> ryan, that does seem to be the point. republicans may not like it, but that wasn't what this election said american people want. the majority of them. >> i think it's certainly true you have a large number of americans, 60%, according to a "washington post" abc news poll who favor raising taxes on folks earning more than $250,000 a year. but there are a couple other things to keep in mind, as well. president obama often talks about returning to clinton era tax rates.
Dec 3, 2012 1:00pm PST
that rate to 39.6% where it was during the clinton administration. what else is in this new gop proposal? >> reporter: let's show you some of the savings when it comes to government spending. first of all, they put about $600 billion in what the republicans are calling health savings. we understand -- we don't have details. we understand much of that comes from medicare, things that we've heard from republicans over and over like raising the eligibility age, means testing, things like that. so then we have about $600 billion in essentially spending cuts, half from mandatory spending, half from discretionary spending. this is the other very interesting thing that's new. $200 billion from revising the consumer price index. that sounds very technical. but it has very real world consequences because it very much could affect the money, the checks that social security recipients in particular get every single month because it effectively changes inflation so it changes the formula from what they would get. >> significant differences between the white house proposal on this part of the equatio